Botswana launches indigenous insurer
Lucy Kgweetsi | Wednesday October 15, 2025 10:02
The company gives ordinary citizens direct stake in ownership and governance, reflecting a shift towards local control in an industry long dominated by multinational firms. At the launch, BLIC’s founding CEO, Tshepo Jim, highlighted the company’s purpose.
“Botswana deserves a life insurance company that reflects our beliefs, our culture, and our collective aspiration for a secure and prosperous future,” he said.
Jim described BLIC as “built by its own people for its own people,” emphasising the role of citizens in shaping the company’s operations and priorities.
“Forty-five percent of the company is held by individual members of the Botswana Public Employees’ Union through the Malopu Trust Fund,” the CEO explained BLIC’s ownership structure.
“An additional 15% is collectively held by the union and its affiliates, while the remaining 40% is available to other trade unions and prospective investors.”
He noted the significance of this structure saying workers and trade unions are crucial cogs in defining the country’s economic future.
Financial accessibility and inclusiveness are central to BLIC’s approach. The CEO outlined plans to provide USSD access for clients without smartphones and to develop affordable insurance products for rural and low-income communities.
“We are here to promote financial inclusion and to respond to the needs of people who have often been left out,” he said, highlighting the company’s intention to focus on practical accessibility rather than market dominance.
Governance and accountability are also priorities. The CEO stressed, “We have committed to regular reporting and strict adherence to regulatory standards to ensure transparency and accountability.”
These measures are intended to maintain public confidence and allow members to track how the company operates.
BLIC also aims to strengthen local expertise through the employment of Botswana-based professionals in actuarial science, finance, ICT, and legal services.
“Our goal is to strengthen local expertise whilst providing services that reflect the realities of Botswana,” the CEO said.
He described the launch as more than the creation of a financial institution.
“This is not just a company, but a movement, a symbol of what is possible when Botswana believes in itself,” he said.
Jim added that BLIC is designed to encourage citizen participation, not only as policyholders but as stakeholders who have a tangible influence on governance and decision-making.
The establishment of BLIC demonstrates a model where citizen ownership intersects with professional management.
By giving members a stake in the company and emphasising local capacity, BLIC represents an experiment in how financial institutions can combine public involvement, accountability, and sustainable service delivery.
“We are here to respond to the needs of our people, to strengthen local participation, and to build a framework where ordinary citizens play a central role in shaping the country’s economic future,” he said.